South Street Capital and T2 Acquire Property Near Purdue University
- Mar 27, 2017
Lafayette, Ind.—Chicago-based South Street Capital and T2 Capital Management recently announced the acquisition of 100 Northwestern Ave. in an off-market transaction. The property is a flagship retail space located in West Lafayette.
100 Northwestern Ave., locally known as The Miller Building, is a mixed-use, three-story building consisting of retail, apartments and office space. The acquisition is the most recent of several joint ventures between the two real estate investment firms. Previous ventures between the two entities had repositioned assets near Purdue University and downtown Chicago.
“The Miller Building has been a pillar of the West Lafayette landscape for over 100 years. It’s also an acquisition that I have pursued for the last 15 years,” Marc Muinzer, South Street Capital’s founder, said in a prepared statement. “We do not take the opportunity to acquire and reposition this asset lightly and are exploring multiple redevelopment options that will transform this best in market location and building into an asset that pairs work, retail and recreation.”
With a lengthy track record in the student housing sector, South Street Capital is looking to acquire assets to add to its 500,000+ square feet portfolio. Founded in 2011, T2 Capital Management invested more than $300 million among different types of property, with a focus on executing investments up to $10 million.
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